supervision. Central bank communication will constitute a central policy tool for that purpose. The paper asks how such … communication will affect financial markets, exploiting the fact that many central banks have had some financial stability role in … times, but can have a substantially larger effect during periods of financial stress. Moreover, central bank communication …

The paper presents a positive model of communication in federal legislatures to study the incentives of members to … consideration, communication between delegates generally suffers from a bias that make truthful revelation difficult and sometimes …-)centralization, which revisits Oates' decentralization theorem in a world of incomplete information and strategic communication. Empirical …

, using rules and task guidelines, and ex post coordination, using communication and broad job assignments. It shows that: (i … communication and substantial employee discretion. (iii) Broad task assignments and intensive horizontal communication are … complementary. Hence, lower communication costs often result in less specialization. …

communication flows serve as important channels of diffusion. The analysis is based on examining the productivity effects of R …